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Bitcoin’s weekly surge leaves EOS, BAT behind in its wake

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Bitcoin, the world’s largest cryptocurrency, seems to be gaining steam as the much-anticipated block reward halving approaches. While many did expect Bitcoin to surge to new heights by this time, the king coin’s recovery post-Black Thursday has been remarkable. However, for once, it would seem that Bitcoin’s growth is not rubbing off on the market’s altcoins, with many of them recording significant losses.

Bitcoin [BTC]

Source: BTC/USD on TradingView

Bitcoin has arguably been the best-performing crypto-asset in the market, with its performance lately seeming to have found a gear after the king coin surged by over 7% over the past week. In fact, at the time of writing, Bitcoin was trading at $9272, way past its levels before the crash last month. How Bitcoin’s price will perform immediately before and after the halving event will be crucial to the performance of the entire crypto-market.

The bullishness in the Bitcoin market was highlighted by the coin’s technical indicators as the Parabolic SAR’s dotted markers were well below the price candles, the MACD line was surging over the signal line on the charts.

In yet another indication of how bullish the Bitcoin market is, Glassnode recently revealed that the number of active entities on the Bitcoin network had reached levels last seen during the bull run of 2017.


Source: EOS/USD on TradingView

EOS, once a regular in the top-10 of the cryptocurrency charts, has steadily dropped over the past few months. And, in light of its lukewarm price performance, it doesn’t seem like EOS is climbing up the charts anytime soon either. Unlike most altcoins in the market, EOS continued to be very close to its price levels post-Black Thursday, with EOS trading at $2.71, at the time of writing. Over the past 7 days, contrary to the king coin’s positive movement, EOS plunged by over 7%.

The mouth of the Bollinger Bands, at the time of writing, was slightly widening, suggesting some incoming volatility in the market, while the Relative Strength Index, in correspondence with the price drop, was falling towards the oversold zone.

EOS was in the news recently after Tezos, a comparatively new cryptocurrency and the latest entrant to the top-10, overtook it in terms of real volume and total value locked in staking.

Basic Attention Token [BAT]

Source: BAT/USD on TradingView

Basic Attention Token or BAT was ranked 34th on the cryptocurrency charts, at the time of writing, with a trading price of $0.18. Like EOS before it, BAT too did not register a consistent hike following the surge in Bitcoin’s price. Over the past 7 days, BAT dropped by almost 4%, with the token recording stagnant market volumes all across the board.

The Chaikin Money Flow underlined the disappointing BAT market, with capital inflows found to be in the negative. Further, the Awesome Oscillator highlighted only minimal momentum in the market.

BAT was in the news recently after one of its developers took aim at Bitcoin’s infamous transaction and processing times and congestion woes, when asked about why Brave Browser did not integrate Bitcoin or Lightning Network.


Jibin is Editor-in-Chief at AMBCrypto. With over three years of experience as a political writer, he primarily focuses on the political impact of crypto developments. A graduate in Law and International Relations, his writing is by and large focused on cryptocurrencies from the political and financial perspective. A Liverpool FC fan. YNWA
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